India's Snabbit nears $400M valuation funding

Indian instant house-help startup Snabbit is reportedly close to securing new funding at a valuation of approximately $400 million. The round, potentially reaching $50-55 million, is expected to be led by Susquehanna Venture Capital, with participation from Mirae Asset, FJ Labs, and existing investors. This significant valuation marks a substantial increase from its previous funding round. Snabbit connects households with on-demand domestic services, catering to a growing demand driven by India's young, urban workforce accustomed to app-based services. The company has reported completing over one million jobs in March alone.